IAV announces change in its ownership structure - Schaeffler Technologies acquires minority ownership share

October 10, 2011 // IAV GmbH Ingenieurgesellschaft Auto und Verkehr, a joint venture company providing engineering services for powertrain, electronics and vehicle development today announced a change in its ownership structure.

Schaeffler Technologies GmbH & Co. KG, the major operating company of the Schaeffler Group, will be acquiring the ten percent minority ownership share currently held by Roof Systems Germany GmbH, a company of Inteva Products, pending regulatory approval. Inteva Products acquired its ownership position with its acquisition of ArvinMeritor’s Body Systems division in January, 2011. Inteva will use proceeds from the sale to support strategic growth initiatives related to its four major product lines. With the acquistion of the minority stake in IAV GmbH, the Schaeffler Group will be enhancing its position as one of the leading global suppliers to the automotive industry of high-precision products and systems for engines, transmissions and chassis applications.

About Inteva Products, LLC

Inteva Products, LLC is a leading global supplier offering value-based innovation and environmentally-friendly products that enhance quality and performance. Inteva serves original equipment manufacturers in six key markets: automotive, commercial vehicle, defense, marine, consumer and industrial. Focused on delivering high-value quality, on time and on budget, Inteva has global resources for engineering, manufacturing and customer service for Closure Systems, Interiors Systems, Motors and Electronics, and Roof Systems.

Inteva is focused on sustained global growth, providing excellent customer service and being a best place to work for employees. The company is headquartered in Troy, Michigan and employs over 8,000 people in 18 countries. For more information, please visit www.intevaproducts.com.

About Schaeffler Group

The Schaeffler Group with its three strong brands INA, LuK and FAG is a leading provider of rolling bearings and linear products as well as a renowned supplier to the automotive industry of high-precision products and systems for engines, transmissions and chassis applications. The group of companies stands for global customer proximity, innovative ability and the highest possible level of quality. Sales of €9.5 billion were generated at over 180 locations in more than 50 countries in 2010. With over 70,000 employees worldwide, the Schaeffler Group is one of the largest German and European industrial companies in family ownership. For more information, please visit www.schaeffler.com.

About IAV

Employing over 4,500 members of staff across the globe, IAV is one of the leading engineering partners of the automotive industry. The company has been developing innovative concepts and technologies for future vehicles for over 25 years. Core competencies include production-ready solutions in all fields of electronics, powertrain and vehicle development. Clients include all of the world's premier automobile manufacturers and suppliers. In addition to development centers in Berlin, Gifhorn and Chemnitz, IAV also operates from other locations in Europe, Asia as well as North and South America.